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The Dawes Plan temporarily resolved the issue of the reparations that Germany owed to the Allies of World War I.Enacted in 1924, it ended the crisis in European diplomacy that occurred after French and Belgian troops occupied the Ruhr in response to Germany's failure to meet its reparations obligations.
The crisis was solved by a compromise in the form of the Dawes Plan in 1924. [53] Under the plan, developed by a committee headed by American Charles G. Dawes, New York and London banks loaned Germany hundreds of millions of dollars to stabilize its currency and expand production, which then allowed it to pay reparations. [18]
1924 – American-led conference results in the Dawes Plan. Eased reparations for Germany and improved its economic situation. 1924 – Rogers Act establishes the Foreign Service by merging the low-paid high prestige diplomatic service with the higher paid, middle class consul service. The act provided a merit-based career path, with guaranteed ...
The Dawes Plan led to a boom in the German economy, as well as a sentiment of international cooperation. [110] Building on the success of the Dawes Plan, U.S. ambassador Alanson B. Houghton helped organize the Locarno Conference in October 1925. The conference was designed to ease tensions between Germany and France, the latter of which feared ...
The Mellon-Berenger Agreement (or Accord Mellon-Bérenger) (29 April 1926) was an agreement on the amount and rate of repayment of France's debt to the United States arising from loans and payments in kind made during World War I (1914–1918), both before and after the armistice with Germany.
The U.S. Constitution was a federal one and was greatly influenced by the study of Magna Carta and other federations, both ancient and extant. The Due Process Clause of the Constitution was partly based on common law and on Magna Carta (1215), which had become a foundation of English liberty against arbitrary power wielded by a ruler.
According to Walter A. McDougall, Schuker's book The End of French Predominance in Europe is the definitive work on the circumstances leading to the adoption of the 1924 Dawes Plan on German reparations. [3] The book was awarded the Gilbert Chinard Prize (in 1976) and the George Louis Beer Prize (in 1977). [4]
Charles Gates Dawes (August 27, 1865 – April 23, 1951) was an American diplomat and Republican politician who was the 30th vice president of the United States from 1925 to 1929 under Calvin Coolidge. He was a co-recipient of the Nobel Peace Prize in 1925 for his work on the Dawes Plan for World War I reparations.